Are You The Next Steve Jobs? Endeavor Indonesia Is Looking For You

Endeavor Indonesia [1] is a non-profit organization serving as a catalyst to unleash the potential of ‘high-impact entrepreneurs’ in the country. Who are these high-impact entrepreneurs, exactly? According to Endeavor, they are the ones who already have a proven high-growth business model from any industry with revenue of at least around $1 million. Especially for technology entrepreneurs, it is not only about the revenue, but more about the business model value. Sati Rasuanto, the managing director of Endeavor Indonesia took the Instagram business model as an example, explaining to us, “One day your revenue is $0, and the next day your revenue is $1 billion.”

So what do entrepreneurs get when they join Endeavor Indonesia? A lot. Sati claims that if entrepreneurs have $2 million in revenue, then Endeavor intends to increase that revenue as high as $20 million. Endeavor will provide its members with a global network of mentors, an advisory panel, and global connections. You can see more details here. Here are also a couple of examples of technology entrepreneurs from around the world under Endeavor:

• Guibert Englebienne; Globant, Argentina – 1,067 percent growth in jobs since selection
• Marcelo Romcy; Proteus, Brazil – 1,556 percent growth in revenue since selection

Endeavor aims to create this same success story in Indonesia. Applicants will undergo a rigorous selection process by Endeavor. The video below illustrates the selection process. Beware: being accepted by Endeavor is even harder, so goes the claim, than being accepted by Harvard University [2].

Startups who has finished seed funding rounds such as humor site MalesBanget.com, or other startups who has sustainable growth and business model in the last two to three years should be eligible for candidacy. At the moment, Endeavor Indonesia approaches and selects entrepreneurs based on recommendations. [3]

The three main criteria to be selected for Endeavor Indonesia are:

• Business innovation – the business model must have the potential to be a game-changer in the industry.
• Fit with Endeavor – the entrepreneur is open to accept feedback and advice from Endeavor, and eventually contribute and give back to the organization.
• Values and ethics – the entrepreneur must become a principled role-model who can inspire and give back to the community.

Endeavor Indonesia is the first Endeavor program in Asia, established in February 2012. The people behind the expansion to Indonesia are its seven board members, which consist of Indonesian renowned businessman Ciputra, owner of the property group Ciputra Development, and Husodo Angkosubroto from investment management group Gunung Sewu Kencana.

We should note, however, that Endeavor Indonesia is only open to local entrepreneurs. For further information about Endeavor Indonesia, please contact info.indonesia@endeavor.org.